Foenix Partners

Oil & Fuel update – 16th October

Crude oil prices surged on Monday, opening with a significant gap and closing the session 4.35% higher, marking the most substantial single-day gain since early April.

Oil & Fuel update – 11 September

Tuesday saw Brent crude oil prices surge beyond the $90 per barrel mark, marking the first occurrence since November. Simultaneously, West Texas Intermediate, the primary U.S. futures contract, experienced a 1.85% increase, reaching $87.13.

Metals Update – 21 August

Copper prices saw a resurgence this morning following three consecutive weeks of decline. The support came from diminished stocks and the anticipation of increased demand during the…

Metals Update – 7 August

At the start of August, the steel markets experienced a subdued atmosphere. Chinese rebar and hot rolled coil futures remained stagnant on Tuesday, patiently anticipating new catalysts to drive movement.

Metals Update – 24 July

Copper prices in London experienced a slight increase on Tuesday due to the weakness of the dollar, making dollar-priced metals more affordable to holders of other currencies. However, the sentiment was weighed down by disappointing Chinese economic data.

Metals Update – 10 July

Copper prices experienced a slight decline on Tuesday as the dollar strengthened, and weak economic data from China, indicated a pessimistic demand outlook. The three-month copper price on the London Metal Exchange (LME) decreased by 0.6% to $8,355.20 per metric ton, while the most-traded August copper contract on the Shanghai Futures Exchange (SHFE) rose marginally by 0.2.1% to $9,426.20 per metric ton.

Metals Update – 12 June

Copper, which is often seen as the global economy barometer, has been relatively stagnant recently. However, prices increased on Friday, showing a potential second consecutive weekly gain.

Fuel & Oil Update – 19 May

Kicking off the week at $73.62 per barrel, Brent Crude hit a high of $77.24 on Wednesday, before slightly pulling back to $76.86—making it clear that breaking the $75 mark was not on the cards.

Metals Update – 19 May

This past Wednesday, the copper market tumbled, hitting a startling 5-and-a-half-month low. An amalgamation of factors pushed the value of this versatile metal down, with the declining demand from China—a global powerhouse in copper consumption—being the primary culprit.

Metals Update – 12 May

On Thursday, the prices of copper declined due to mundane trade data from China, the largest consumer of the metal. This gloomy economic outlook for the country weighed on the demand prospects for copper.